The Central Depository Services (India) Limited (CDSL) on September 22, 2026, issued a notification regarding introduction of OTP-Based Transfer-cum-Closure Facility.
The following has been stated: -
•CDSL has introduced an OTP-based Transfer-cum-Closure facility in CDAS for seamless transfer and closure of demat accounts, subject to Transferor DP approval.
•DPs shall verify the BO ID, target demat account details and status of holdings before processing requests.
•Transferor DPs must approve or reject requests within two working days from receipt in CDAS.
•DPs shall establish monitoring mechanisms and maintain appropriate internal controls and audit requirements.
•The facility shall be applicable with effect from September 25, 2026.
The detailed notification is given in the document below.
[Notification No.: CDSL/OPS/DP/POLCY/2026/656]
